Leading private equity firm Thomas Bravo is on a shopping spree. The company has just announced plans to acquire the Pennsylvania-based Software specialist, Frontline Education. Thomas Bravo made the big announcement this week.
According to the company’s press release, the Chicago, Illinois-based private equity firm has announced plans to acquire Frontline Education, a provider of administrative and HR software solutions for educational organizations.
The deal, which is still subject to customary closing condition and regulatory approvals, is expected to close in the third quarter of this year.
Financial terms of the deal were not disclosed to the public. As mentioned in the company’s press release, Frontline’s investor Insight Venture Partners will retain minority stakes in the Frontline Education.
Willkie, Farr & Gallagher LLP and Cooley LLP will be the legal advisors for Frontline Education, while UBS Investment Bank will serve as the lead investment advisor. Kirkland and Ellis LLP will advise Thomas Bravo.
Thomas Bravo, a close look at the American investment giant
Founded in 2008 and based in Chicago, Illinois, Thomas Bravo is a leading private equity and growth capital firm that focuses more on the software and technology space. The company has already completed approximately140 software and technology-focused acquisitions, which has an enterprise value of around $30 billion.
The company, which currently manages private equity funds representing over $17 billion in fresh capital, employs some sort of “acquire and build” investment strategy in the business world. It invests in growth initiatives and makes strategic acquisitions intended to increase the value of the business and achieve steady revenue flow.
In addition to its head office in Chicago, Thomas Bravo also runs an office in San Francisco, California.
Frontline Education, the target company
Founded in 1998 and based in Malvern, Pennsylvania, Frontline Education develops and provides a suite of administrative and HR software for K-12 schools and educational organizations.
The company has around 650 employees and operates in five locations around the US market. The company’s core software solutions serve more than 12,000 educational organizations with more than 5 million education employees and 1.2 million substitutes teachers using its administrative tool every day.
In the past three years, the company has made some significant expansion, expanding its core software solutions business through organic growth and strategic acquisitions. The company has acquired companies whose products range from recruiting and hiring tools to special education software and professional providers. These include Aspex Solution (2014), CRS (2015), My Learning Plan (2015), Centris (2016), EdTraining Center (2016), eSped (2016), Excent (2016), Teachscape (2016), School Improvement Network (2017) and Teachers-Teachers (2017). Currently, the company has approximately 650 employees in five locations around the U.S.
